Breaking News
More () »

Cavs owner Dan Gilbert’s real estate firm waiving rent for small businesses in Detroit

Reports indicate Bedrock will not charge rent in April or May to restaurants and retailers that earn less than $100 million in sales annually.
Credit: Phil Long
Cleveland Cavaliers owner Dan Gilbert answers a question about Kyrie Irving's demand to be traded during a news conference at the Cavaliers training facility in Independence, Ohio on Wednesday, July 26, 2017.

CLEVELAND — As ominous daily updates surrounding the coronavirus pandemic sweep the nation informing the public on the number of infected individuals, as well as the number of deaths and a struggling economy, there is some good being done in the business community. 

Cleveland Cavaliers owner Dan Gilbert is stepping up.

According to the Detroit Free Press, Gilbert's real estate firm, Bedrock, will not charge rent or other fees in April or May to the restaurants and retailers in Detroit that earn less than $100 million in sales annually.

Amid the coronavirus crisis, the economy has been hit hard by people social distancing, not being in public and being ordered to "stay at home" in several states. A record-number of people have filed for unemployment and simply put; times are tough. 

Gilbert, 58, and his real estate firm are hoping to help small businesses weather the financial storm they are likely dealing with during the coronavirus outbreak.

Small businesses such as restaurants have been hit considerably hard during the coronavirus pandemic due to forced closures, while only being permitted to serve carryout orders. 

On May 26, 2019, Gilbert suffered a stroke. The Cavs owner is still recovering and rehabbing from the stroke.

RELATED: City of Cleveland confirms nine new cases of COVID-19, bringing the city's total to 110

RELATED: DOD announces death of first US service member from COVID-19

RELATED: Summit County grant offers relief for small businesses

RELATED: Report: NCAA decides not to grant athletes from winter sports extra year of eligibility

RELATED: Summit County reports 116 confirmed cases of COVID-19, 5 deaths

RELATED: FDA fast-tracks COVID-19 testing device that can deliver results in as little as 5 minutes

RELATED: Cleveland's I-X Center could be used as a coronavirus field hospital

RELATED: Kent State University announces refund policies for parking, room and meal plans

Before You Leave, Check This Out